The move comes in the wake of an unprecedented leadership
overhaul announced last month by CEO John Cryan.

"The Supervisory Board's guiding principle, in light of the
Bank's Strategy 2020, was to reduce complexity of the Bank's
management structure enabling it to better meet client demands
and requirements of supervisory authorities," the bank said in
the October statement.

Deutsche Bank unveiled a record loss for the third quarter of
this year.